LTC/USD Medium-term Trend: Ranging

Resistance Levels: $58, $59, $60
Support Levels: $54, $53, $52

Yesterday, August 16th, the LTC price was in a sideways trend. Yesterday, the market was  quiet for the price of Litecoin and there was no significant price movement. Today, the price of Litecoin is approaching the resistance level at $60. And the cryptocurrency is going to face resistance at the $60 price level.

If price didn't break the resistance level at $60, it will fall to the support level. Nevertheless, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The Relative Strength Index period 14 is level 51 which indicates that price in the sideways trend zone.

From the 1-hour chart, the LTC price is in a sideways trend. The price of Litecoin is above the exponential moving average indicating that price is rising. Meanwhile, the MACD line and the signal line are at par with the zero line which indicates a neutral signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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